The two brokers involved in a prime broker transaction will utilize TradeSuite ID to match the transaction that is to be settled. 为了交易, the executing broker (of street-side trade) will always submit the confirmation and the prime broker will affirm that trade.
为了转移, the prime broker who is delivering the asset will always submit the confirmation acting in the role of the executing broker. (注:如果一个主要经纪人正在接收一个有空头头寸的资产, then they will be acting as the executing broker and generating the confirmation for that asset with the short position)2. 反政府的主要经纪人, 扮演代理人的角色, 将确认将为对冲基金转让的资产头寸.
无论是交易还是转让, ITP will forward the affirmed transaction to NSCC’s UTC system where it is processed in market code 90 (直接转矩 ID -Prime Broker). 此外，一旦收到澳门金沙城中心将适用其贸易担保的交易. 为解决, UTC will forward the transaction to 中枢神经系统 where it will be netted with a prime broker’s other 中枢神经系统 settlement activity for their same clearing participant number.3
- 执行经纪人在ITP中提交确认. 确认函发送至院校, 代理人(总是主要经纪人)和利害关系人(如适用)
- 机构/代理确认确认. 确认书送交执行经纪及利害关系人(如适用)
- ITP sends affirmation (of transferred asset) to NSCC's 通用贸易征收(UTC) System
- UTC将事务发送到中枢神经系统进行结算. (Note: This transaction will net with all other street side activity that the Broker has settling in 中枢神经系统 on settlement date)
- 中枢神经系统 interfaces with 直接转矩's book entry settlement system to process DO movements of long and short positions with clearing Members
2 The prime broker who is submitting the confirm must use an Executing Broker ID that is eligible to settle 中枢神经系统
3 如果证券在获得中枢神经系统资格时予以确认, 然后ITP将确认的事务转发给UTC. 如果该证券随后在UTC发送到中枢神经系统之前不符合中枢神经系统的资格, then UTC will include the transaction in its multilaterally netted guaranteed balance order process. 在这个过程中, a clearing Member will be assigned a balance order(s) to settle with another NSCC 清算 Member (not necessarily the one who was the original counterparty to the transaction). These balance orders are settled at a uniform settlement price (or mark-to-market) and are guaranteed by NSCC until settlement date.